ITM Power (LON:ITM) Reaches New 12-Month Low – What’s Next?

Shares of ITM Power Plc (LON:ITM) hit a new 52-week low during trading on Thursday . The company traded as low as GBX 35 ($0.44) and last traded at GBX 35.26 ($0.44), with a volume of 5662544 shares traded. The stock had previously closed at GBX 37.72 ($0.48).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reduced their target price on shares of ITM Power from GBX 60 ($0.76) to GBX 59 ($0.74) and set a “hold” rating for the company in a report on Thursday, August 15th.

ITM Power Price Performance

The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. The company has a fifty day moving average price of GBX 44.73 and a two-hundred day moving average price of GBX 50.29. The company has a market cap of £223.61 million, a P/E ratio of -906.50 and a beta of 2.03.

Insider Buying and Selling at ITM Power

In other ITM Power news, insider Andy Allen purchased 658 shares of the stock in a transaction on Tuesday, October 15th. The shares were purchased at an average price of GBX 46 ($0.58) per share, with a total value of £302.68 ($381.45). Also, insider Simon Bourne acquired 60,126 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of GBX 42 ($0.53) per share, with a total value of £25,252.92 ($31,824.73). Insiders purchased a total of 61,092 shares of company stock worth $2,570,652 over the last ninety days. 48.26% of the stock is currently owned by corporate insiders.

About ITM Power

ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolysers in the United Kingdom, Germany, Australia, rest of Europe, and the United States. The company’s product portfolio comprises TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a 20 MW electrolysis process module for large-scale projects.